Account-based marketing (ABM) is a type of targeted marketing that focuses on specific accounts and individuals rather than a broader market.
This strategy allows businesses to create more personalised campaigns that are tailored to the needs of their target customers.
In this blog post, we will discuss the basics of ABM and how you can start using it for your business!
Benefits of Using ABM
Account Based Marketing has been around since 2015 but it wasn’t until last year when we saw an increase in Account Based Marketing strategies being implemented by companies all over the world.
It can help companies to gain a competitive edge by providing them with better insights into their customers’ needs and wants.
Also, Account Based Marketing can increase sales because it allows businesses to focus on their most valuable customers.
With account-based marketing, you can potentially get the best value out of your efforts because it allows you to focus on a smaller number of customers who are most likely to buy from you. Account based marketing can also help companies save time and money by allowing them to target the right customers with the right messages.
Account-based marketing is also known to create increased long term value from each customer. Even though the initial sale may take a longer period, by working with a targeted audience and keeping them up to date with relevant information, Account Based Marketing can lead to higher lifetime value of the customer.
Companies that use Account-Based Marketing tend to have better results because it allows them to be more focused and strategic with their campaigns. Account-based marketing can also help businesses increase their market share by targeting high value customers.
Create a List of Target Accounts
In order to use Account Based Marketing, you first need to create a list of your target accounts.
This can be done by looking at your current customer base and identifying which companies are the most profitable or have the highest potential for growth.
Also, you can use data from your website or other marketing channels to help you compile a list of target accounts.
Create Personalised Campaigns
Once you have created a list of target accounts, you can start creating personalised campaigns that are tailored to their needs.
This can include anything from customised website content to targeted email campaigns. You can also reach out to your target accounts directly and offer them special deals or discounts.
How We Use ABM
As you may already know: we only work with clients who have been in business for more than 5 years, and have 10+ employees. In short, we work with companies that are clear about what they want to achieve, and have established connections, but not a full time marketing department.
Through ABM, we are able to target with these clear directions and then go about looking for these potential customers, forming relationships with them, and taking it from there, instead of putting out a wide net.
Afterwards, we try to extend our services for our existing customers which, again, creates long term value for us. It may take us longer to acquire each new customer, but over time, and with a stronger relationship, the results are more fruitful.
If you’re looking for a way to improve your marketing efforts, then Account-Based Marketing may be the solution for you! This type of marketing can help you to better understand your customers and create more personalised campaigns that are tailored to their needs.
In the meantime, please check our extended digital marketing services.